Los Angeles Capital Management LLC Decreases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Los Angeles Capital Management LLC lowered its position in Okta, Inc. (NASDAQ:OKTA) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,015 shares of the company’s stock after selling 13,496 shares during the period. Los Angeles Capital Management LLC’s holdings in Okta were worth $5,886,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fisher Asset Management LLC purchased a new stake in shares of Okta during the fourth quarter worth about $317,000. a16z Perennial Management L.P. purchased a new position in shares of Okta in the fourth quarter worth $54,125,000. Andar Capital Management HK Ltd acquired a new stake in shares of Okta during the fourth quarter worth $3,531,000. Gilbert & Cook Inc. grew its holdings in shares of Okta by 21.4% during the fourth quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock valued at $1,376,000 after buying an additional 2,676 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new position in shares of Okta in the 4th quarter valued at $1,273,000. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

OKTA stock opened at $96.55 on Monday. The business’s 50-day moving average is $100.63 and its two-hundred day moving average is $86.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market capitalization of $16.16 billion, a P/E ratio of -44.49 and a beta of 0.98. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The firm had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. Analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,779 shares of company stock worth $1,205,990. Corporate insiders own 7.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Royal Bank of Canada raised their price objective on Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Westpark Capital raised shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, February 29th. Canaccord Genuity Group increased their target price on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Finally, Robert W. Baird raised their price target on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Okta currently has an average rating of “Hold” and an average price target of $100.39.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.